Sherbrooke Park Advisers LLC Invests $1.06 Million in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Sherbrooke Park Advisers LLC bought a new position in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,498 shares of the company’s stock, valued at approximately $1,056,000.

Several other large investors have also added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its holdings in shares of Spectrum Brands by 1.7% during the 4th quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock valued at $112,654,000 after buying an additional 22,484 shares in the last quarter. Callodine Capital Management LP raised its holdings in shares of Spectrum Brands by 29.8% during the 4th quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock valued at $44,568,000 after buying an additional 121,000 shares in the last quarter. FIL Ltd raised its holdings in shares of Spectrum Brands by 8.7% during the 4th quarter. FIL Ltd now owns 461,568 shares of the company’s stock valued at $38,998,000 after buying an additional 36,798 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock worth $38,089,000 after purchasing an additional 7,198 shares during the period. Finally, Man Group plc increased its stake in Spectrum Brands by 160.5% in the 4th quarter. Man Group plc now owns 320,178 shares of the company’s stock worth $27,052,000 after purchasing an additional 197,263 shares during the period.

Spectrum Brands Trading Down 0.7%

SPB opened at $64.56 on Friday. The stock’s fifty day moving average is $65.34 and its two-hundred day moving average is $78.56. The company has a market capitalization of $1.70 billion, a P/E ratio of 15.86, a PEG ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a 52 week low of $56.50 and a 52 week high of $96.62. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.67). The company had revenue of $675.70 million during the quarter, compared to analysts’ expectations of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. Analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.91%. Spectrum Brands’s payout ratio is currently 89.95%.

Analysts Set New Price Targets

A number of brokerages have commented on SPB. Monness Crespi & Hardt decreased their price target on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Royal Bank of Canada cut their price objective on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Wells Fargo & Company cut their price objective on Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group lifted their price objective on Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.